Spanish minister proposes €20,000 ‘universal inheritance’ from age of 18

Yolanda Diaz says money for study, training or starting a business would ensure equality of opportunity'

Spain's leftwing labour minister, Yolanda Diaz, has proposed a scheme to tackle social inequality by giving every young person in the country 20,000 (17,000) to be spent on study, training or setting up a business once they reach the age of 18.

According to Diaz's Sumar platform, which announced the policy before Spain's snap general election on 23 July, the initiative would cost 10bn, which would be raised by taxing the rich.